My old Volvo worth £2500 as a trade in?

[Tafia]

'Government' at Redminster is considering offering £2500 for older cars if they are traded in for a new or nearly new car.

Does that mean I could sell my old Volvo 740 ( in good order but not now used-needs a battery) for a lot more than scrap value to someone who could then use it to trade in for a newer car?

Hmmm. I guess I had better hang on to it for while.

Any one know more?

[chucklebutty]

As long as it's less than 9 years old I think that's the proposal.

[Targarama]

Tafia - I assume you're wondering whether there will be a market for all sheds shortly. Say, £1800 to someone buying a new car - then the buyer gets £2500 at the car dealer when he buys new. Wonder if they will put a clause in the law saying the car has to be owned for 6 months before getting £2500 though...

[Somewhatfoolish]

hehe I have three 740s to my name, none of them worth more than £150... hope this is true

[Tafia]

Targarama said:

Tafia - I assume you're wondering whether there will be a market for all sheds shortly. Say, £1800 to someone buying a new car - then the buyer gets £2500 at the car dealer when he buys new. Wonder if they will put a clause in the law saying the car has to be owned for 6 months before getting £2500 though...

Sssshhh, don't give 'em ideas.

[Tafia]

More here:

http://www.thisismoney.co.uk/consumer/article.html...

[James_N]

Somewhatfoolish said:

hehe I have three 740s to my name, none of them worth more than £150... hope this is true

My parents think im mad having 2!

[AndyWoodall]

Well if they do bring it in that'll pay for the Essesse kit on my Abarth 500 at least.

Now to find a shed...

[james_tigerwoods]

Cue the cost of all sheds going UP to, say, £2500.....

[Whitney-Paine]

....Volvo 740. Have one as a station hack. Comfy and always starts however long it has been left unused for.

Do so few miles, I was going to weigh it in, although it is a good motor, when the MOT, TAX etc is due at the end of this month.

However, now going to stick it in the garage for up to 6 months to see what happens....never know might be able to increase the down payment on the Focus RS.

SB

[va1o]

This would be so utterly stupid if they put the £2500 grant into action. Cars in UK depreciate mega fast (not that its news to anyone here). Im sure the majority of 9-year old cars are not even worth £2500.

[Aeroresh]

va1o said:

This would be so utterly stupid if they put the £2500 grant into action. Cars in UK depreciate mega fast (not that its news to anyone here). Im sure the majority of 9-year old cars are not even worth £2500.

isnt that the idea?

[va1o]

Aeroresh said:

va1o said:

This would be so utterly stupid if they put the £2500 grant into action. Cars in UK depreciate mega fast (not that its news to anyone here). Im sure the majority of 9-year old cars are not even worth £2500.

isnt that the idea?

The idea is too get more people buying new cars, its not designed to curb depreciation.